Your loan will continue.
As long as you maintain ownership of the property, you may continue to be billed for the loan. As long as you continue to pay the electric bill at that property, the loan will continue; however, if you transfer the electric bill to the renters Flathead Electric Co-op account, then the loan would be due in full.
You will be required to pay off your FEC Loan in full.
After the project is completed and completion is approved by Flathead Electric Cooperative.
Flathead Electric Cooperative will make final payment to the Approved Installer.
If the project cost is larger than the total rebate and loan amount, the homeowner is responsible for paying the trade ally the remaining dollar amount.
This time varies depending on the length of time it takes the Approved Installer and owner to arrange for final inspection, if necessary, and provide all necessary documentation. Once FEC approves completion of the project the check will be issued within 30 days.
Yes, loan payments will be included as a line item on your electric bill starting the first bill after issuance of the check to your Approved Installer.
After Flathead Electric Co-op receives the completed application, loan approval takes up to one week.
Flathead Electric Cooperative (FEC) uses a comprehensive decision matrix that takes into account the amount of the loan, your FEC Credit Rating, credit bureau scores, and the number of liens outstanding on the property.
Eligibility Criteria
- The project qualifies for a rebate.
- Owner(s) account is current. No past due balances or outstanding payment arrangements.
- Owner(s) FEC Credit Rating. Approval requires 9 points or less within the last 12 months.
- For all loans over $1000: Owner(s) Credit Score. Approval requires scores above 600.
The maximum loan amount is $10,000. If the owner(s) have more than one active loan, the combination of all residential loans is capped to $10,000.